Northwire Canada EditionFriday, July 10, 2026
Northwire
TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Drill Results Routine +

Meridian drills 7.2 m of 1.4 g/t Au at Santa Helena

Executive Summary
  • Meridian Mining PLC reported drill results from its Santa Helena project, highlighting hole CD-869 which intercepted 7.2 m of 1.4 g/t Au, 24.3 g/t Ag, 2.3% Zn, and 0.9% Pb.
  • This intercept marks the first appearance of visible gold at Santa Helena and is interpreted as the downdip extension of the Santa Helena North chargeability anomaly.
  • Additional infill drilling at Santa Helena Central returned multiple high-grade intersections (e.g., CD-866: 15.4 m @ 0.7 g/t Au, 5.1% Zn; CD-861: 12.0 m @ 0.8 g/t Au, 4.9% Zn).
  • The company commenced field evaluations for the Espigao Cu-Au targets and secured environmental permission (SEDAM) for upcoming reconnaissance drilling.
  • The release references the March 2025 PFS for the flagship Cabacal project, citing a $984M NPV, 61.2% IRR, and $742/oz AISC.
Material Impact
  • The discovery of a second VMS layer and visible gold at Santa Helena is geologically significant, reinforcing the high prospectivity of the Cabacal belt and supporting the company's hub-and-spoke development strategy.
  • However, this update is part of a well-funded, ongoing exploration program that has already delivered consistent high-grade results throughout 2025 and early 2026. The market has largely priced in the Santa Helena resource potential following the January 2026 maiden resource declaration and subsequent drill campaigns.
  • The news does not alter the immediate capital requirements, DFS timeline, or permitting roadmap for the Cabacal flagship project. It serves as a positive validation of the exploration thesis rather than a fundamental shift in project economics or execution risk.
  • The announcement is incremental to the broader development milestones and aligns with management's stated exploration targets.
MNO · Price
Company Overview
  • Meridian Mining PLC is a pre-revenue junior explorer advancing the Cabacal Au-Cu-Ag VMS project in Mato Grosso, Brazil.
  • Flagship Project: Cabacal. The Preliminary Feasibility Study (PFS) completed in March 2025 outlines a 10.6-year mine life, producing 141,000 oz AuEq annually. Key metrics include a $984M post-tax NPV, 61.2% IRR, $248M pre-production capex, and $742/oz AISC.
  • Secondary Asset: Santa Helena Central. A maiden M&I resource of 5.3 Mt was declared in January 2026. Ongoing drilling aims to expand this resource and support a potential second operational hub.
  • Strategy: The company employs a hub-and-spoke model along a 50 km VMS belt, targeting regional exploration in the Jauru and Araputanga greenstone belts and the Espigao IOCG prospect.
Read the original news release →

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